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SEC sues Elon Musk

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Tje U.S. Securities and Exchange Commission filed a lawsuit against Tesla CEO Elon Musk.

Federal officials allege Musk committed fraud by tweeting last month that he had "funding secured" to take Tesla private.

The SEC claims Musk "knew that he had never discussed a going-private transaction at $420 per share with any potential funding source."

Read more from Investopedia.

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